Molesey Road, Walton-on-Thames KT12 3PJ
Offers in excess of £2,500,000
The existing property comprises of predominantly Industrial space which extends to circa 23,031 sq.ft. over ground and first floors and we understand the existing use of the property to be class E(g).
There is vehicular and pedestrianised access to the site is via Moseley Road, with car parking facilities on the forecourt (14 spaces) as well as an additional carpark at roof level (37 spaces), accessed via a ramp on the eastern side of the site.
The property benefits from a ceiling height of 3m on both floors and the internal partitioning can be removed to create two open clear floors of circa 9,600 sq.ft. each if required. There is a further extension to the rear (Unit 7) providing additional ground floor space.
The property has two loading bay access points, one for the ground floor on the north side of the site and one located on the vehicle ramp for the first floor.
Walton-on-Thames is a market town in the Elmbridge borough of Surrey. The town is located 17 miles south west of central London and 5 miles west of Kingston-upon-Thames.
The town has excellent communication links, with the A3 located approximately 2 miles to the south which in turn leads to the M25 (jct 20) a short distance to the south west. In addition, the M3 (jct 1) is some 3.7 miles to the north of the town, which links Surrey and the South West.
Railway services are provided from Walton-on-Thames rail station, some 1.5 miles south of the town centre which provides services to London Waterloo with a fastest journey time of 24 minutes. Hersham Station is situated approximately 0.2 miles south of the property providing regular services to London Waterloo with a fastest journey time of 34 minutes.
The property is situated east of Molesey Road opposite the Esher Rugby club, in an established industrial area, some 2 miles east of the town centre.
Occupiers within the estate include Travis Perkins (adjacent), Screwfix, Tool Station, Storage Mart, Howdens and a Tesco express amongst other national and independent businesses.
The property is fully let to 6 tenants on 7 FRI leases and currently produces £193,238 per annum and offers potential for future rental growth by way of asset management.
The property is elected for VAT and we would expect the transaction to be treated as a Transfer of a Going Concern.
The site is within an area covered by an Article 4 direction (which covers Hersham Trading Estate (including North Weylands Trading Estate) and removes the permitted development right for change of use from office to residential. As such, planning permission would be required for the change of use of Russell House to residential.
A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed.
For access to the Allsop dataroom please use the following link.
Offers invited in excess of £2,500,000 for the freehold interest, which reflects a net initial yield of 7.27% representing £109 per sq.ft. on the net internal area.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
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- Industrial building extending to circa 23,031 sq.ft. NIA providing 51 car parking spaces
- Situated in an established industrial area in the affluent London suburb of Walton-on-Thames
- Nearby tenants include Travis Perkins (adjacent), Screwfix, Howdens, Tool Station and Tesco
- Fully let to various tenants producing £193,238 per annum which reflects £8.39 per sq.ft.
- Located approximately 0.2 miles from Hersham Train Station
- Offers invited in excess of £2,500,000 (Two Million and Five Hundred Thousand Pounds) for the freehold interest, which reflects a net initial yield of 7.27% representing £109 per sq.ft. on the net internal area
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529